FxPro - Analytics


761.75 6.25/10
84% of positive reviews

WTI Wave Analysis 24 March, 2021

WTI Wave Analysis 24 March, 2021

• WTI reversed from support zone

• Likely to reach resistance level 63.10

WTI oil previously reversed up from the combined support zone lying at the intersection of the 50-day moving average, 50% Fibonacci correction of the upward impulse from January, the support level 58.80 (which reversed the pair 3 times from February) and the lower daily Bollinger Band.

The upward reversal from this support zone stopped the previous medium-term impulse wave (3).

WTI oil is likely to rise further toward the next resistance level 63.10 (former support from the start of March, which stopped impulse wave (1)).

WTI Wave Analysis 24 March, 2021

To leave a comment you must or Join us

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree